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Jul 2, 2011
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>> tom, you made the case of why to big to fail is a problem. but in talking about how you discourage or stop it, at least in the oral remarks you put emphasis on bringing back glass-steagall. what about size caps? if you are worried about size, that is the most direct way and you could argue well, even with glass-steagall you could get mergers, very large institutions, $2 trillion. they could lose their money on cni loans rather than investment banking. what about size katz, 3% to 4% of gdp, and that half a dozen u.s. institutions would be already above the cap and would have to come down over some period. you also have much bigger capital surcharges than what was agreed to over the weekend. that would be another way to i am just curious as to why he chose the glass-steagall route as opposed to the other routes for discouraging to big to fail? >> we did it and think about size. but part of what we thought about its size it isn't really the factory -- it is one of the factors, but not the primary factor. it is the nature of the risk -- whether y
>> tom, you made the case of why to big to fail is a problem. but in talking about how you discourage or stop it, at least in the oral remarks you put emphasis on bringing back glass-steagall. what about size caps? if you are worried about size, that is the most direct way and you could argue well, even with glass-steagall you could get mergers, very large institutions, $2 trillion. they could lose their money on cni loans rather than investment banking. what about size katz, 3% to 4% of...
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Jul 24, 2011
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>> they seem very big now. what we did was terrible, but you're talking about handling the crisisi am sorry, my son has just told me not to gesticulate. i don't believe that either he or mr hinton made any great mistakes. were mistakes made within the organisation? absolutely. were people that i trusted or that they trusted badly betrayed? yes. >> finally, to james murdoch, it was reported that when rebekah brooks spoke to staff to announce the closure of news of the world, she said that in a year's time they might understand why the paper had to close. i won't ask you to comment on what she thought in saying that, but what is the significance of the period of time of a year? do you expect there to be significantly more revelations that, with hindsight, made the closure of news of the world inevitable? >> i can't speak to what she was specifically referring to. she made those comments herself when she was saying goodbye, sadly, to the staff. i can say that what happened at the news of the worldthe events leadin
>> they seem very big now. what we did was terrible, but you're talking about handling the crisisi am sorry, my son has just told me not to gesticulate. i don't believe that either he or mr hinton made any great mistakes. were mistakes made within the organisation? absolutely. were people that i trusted or that they trusted badly betrayed? yes. >> finally, to james murdoch, it was reported that when rebekah brooks spoke to staff to announce the closure of news of the world, she said...
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Jul 24, 2011
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and being too big to fail requires allowing a cfi to fail. the second part of the act empowers the fed and the fdic to reduce the affect on the system in the event of a failure to tools such as liquidation of authority and approve a resolution planning. the federal reserve is working with the fdic to thecfis prepare for resolution by adopting living wills. the joint rule is expected this summer. reducing the likelihood of a severe crisis requires strengthening the resilience of markets an infrastructure. toward that end, provisions to improve the transparency and stability of the derivatives market and strength since he th -- strengthens the parts of the infrastructure. we and other agencies are moving this work for in consultation with the corporate foreign regulators. u.s. agencies are working to address structural weaknesses in areas not as easily addressed by the at, such as taconic repo -- such as the repo market. the fed is committed to the promulgation of rules that are sensible, protect smaller community institutions, and promote the
and being too big to fail requires allowing a cfi to fail. the second part of the act empowers the fed and the fdic to reduce the affect on the system in the event of a failure to tools such as liquidation of authority and approve a resolution planning. the federal reserve is working with the fdic to thecfis prepare for resolution by adopting living wills. the joint rule is expected this summer. reducing the likelihood of a severe crisis requires strengthening the resilience of markets an...
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Jul 11, 2011
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there were some big losses on fortunately, some big lessons learned. perhaps the biggest loss was the program. we encourage the consolidation of the military and civilian weather system. it turned out to be a logistical nightmare with the primary user met with nasa in the dod to agree on a system of grow phenomenally out of the budget just went haywire, and requirements for the system were not controlled in a way that is spending dramatically out of control and eventually the program had to be killed and separated, so there was a big loss. my own personal loss i was involved in this case transformation policy-making at the time and we were passionate about the x33 program single stage oregon and i learned a very important lesson, which is policy never trump's physics. so you can say whatever you want, but if you can't do it, if it will happen, and we wanted to will the single states to orbit in existence and we had a beautiful concept that looked like the future we did this didn't have the technology. and ultimately we didn't have the will either. i th
there were some big losses on fortunately, some big lessons learned. perhaps the biggest loss was the program. we encourage the consolidation of the military and civilian weather system. it turned out to be a logistical nightmare with the primary user met with nasa in the dod to agree on a system of grow phenomenally out of the budget just went haywire, and requirements for the system were not controlled in a way that is spending dramatically out of control and eventually the program had to be...
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Jul 25, 2011
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big bears. big salmon. i came back at superintendent as mount ranier. i had hawaii, guam and the sierras. i was asked to come back and serve as the 18th director. i went through senate confirmation and have been back here since. >> earlier this year, there was three hikers in yosemite that went through a waterfall and presumed to be dead. what the park system doing to keep them safe? guest: the experience was very tragic. i hate to hear about those things. in our job, we are to inform the public to protect themselves from these hazards. it's really not our job to fence off the hazards of the national park. part of that is part of the experience. to see wild america, at least as much that we can create. in the case of the myrtle falls incident, there is a barrier and signs. unfortunately, these individuals crossed those, entered the water, slipped and went over the falls. it's incredibly tragic. we will renew our efforts to warn the public about these thing. yosemite this time of year would have very, very low water flows. because of all the snow, we got
big bears. big salmon. i came back at superintendent as mount ranier. i had hawaii, guam and the sierras. i was asked to come back and serve as the 18th director. i went through senate confirmation and have been back here since. >> earlier this year, there was three hikers in yosemite that went through a waterfall and presumed to be dead. what the park system doing to keep them safe? guest: the experience was very tragic. i hate to hear about those things. in our job, we are to inform the...
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Jul 18, 2011
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that's a big part -- we a cut, raise revenue and invest. but let's start a conversation with what world we are in. not who can throw the biggest number on the table and the most stubborn about saving something were cutting something. it is an idiotic debate we're having and unworthy of our country. this is a whole other theme in the book which we do not have time to talk about. we did not get here by accident. you did not get where you are and i did not get our i.m. on my own. yes there is a lot of people out there is as i got this and i'm going to keep the government out of my life. you got here as a product of the greatest public-private partnership in the history of the world. that's how you got here. and we call this americas at formula for success. it has five parts. we educate our people up to and beyond what ever the level of technology is starting with universal primary and then post secondary education. we invite the world immigrants in, those with low skills and those with high skills, the first round intellectual draft choices, a
that's a big part -- we a cut, raise revenue and invest. but let's start a conversation with what world we are in. not who can throw the biggest number on the table and the most stubborn about saving something were cutting something. it is an idiotic debate we're having and unworthy of our country. this is a whole other theme in the book which we do not have time to talk about. we did not get here by accident. you did not get where you are and i did not get our i.m. on my own. yes there is a...
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Jul 3, 2011
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it is a big surprise, but we should have known a couple of months ago. you have gotten pretty good at this covert ps stuff. [laughter] vice president, colleagues, friends, and family, thank you for being here today. i would like to congratulate leon panetta on his recent confirmation. after the 2008 election, he wrote an op-ed suggesting president obama retain me as secretary of defense. when president obama announced for my recommendation as a successor, i returned the favor. this country is fortunate that a statesman of his caliber and experience has agreed to serve again and at such an important time. my parting advice for leon is to give his -- get his office just the way he likes it because he may be here longer than he thinks. i would like to thank the members of congress here today. appreciate the gracious and supportive treatment afforded to me by representatives of both parties. even when there were disagreements over policies and priorities, congress always came through for our men and women in uniform, especially for programs that protect and
it is a big surprise, but we should have known a couple of months ago. you have gotten pretty good at this covert ps stuff. [laughter] vice president, colleagues, friends, and family, thank you for being here today. i would like to congratulate leon panetta on his recent confirmation. after the 2008 election, he wrote an op-ed suggesting president obama retain me as secretary of defense. when president obama announced for my recommendation as a successor, i returned the favor. this country is...
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Jul 10, 2011
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i am a big supporter of biofuels. one thing that has become clear is that we need to accelerate our basic research in ethanol and other biofuels made from things like wood chips and algae as opposed to just focusing on corn. that is probably the least efficient energy producer of the various other approaches. it is important to examine if we're going after the cutting edge by diesel --biodiesel and ethanol approaches that allow brazil to run about 1/3 of its transportation system on biofuels. they get it from sugar cane. it is a more efficient conversion process than corn- based ethanol. doing more research in finding better ways to do the same concepts, i think that is the right way to go. >> i believe you addressed this next one. we will skip past it. james says he would cut costs by cutting welfare programs. people will not try harder when they are handed everything. >> i think we should acknowledge that some welfare programs in the past were not well-designed. in some cases, they did encourage dependency. i worked
i am a big supporter of biofuels. one thing that has become clear is that we need to accelerate our basic research in ethanol and other biofuels made from things like wood chips and algae as opposed to just focusing on corn. that is probably the least efficient energy producer of the various other approaches. it is important to examine if we're going after the cutting edge by diesel --biodiesel and ethanol approaches that allow brazil to run about 1/3 of its transportation system on biofuels....
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Jul 23, 2011
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-pakistan relationships are a big priority. we organize events on a monthly basis. senior pakistan officials also regularly speak here. earlier this spring, we hosted pakistan's finance minister. we bring in columnists and journalists. in addition to our regular fellowship competitions, open to all nationalities, our asia program sponsors a fellowship open to only pakistani scholars. one of our former scholars was written while he was a woodrow wilson scholar and is with us today. where are you? please stand. welcome. our asia program has undertaken an extensive review of the assistance program and will rollout recommendations of that plan. the house foreign affairs committee yesterday "fenced" funding for economic and military assistance to pakistan until the president certifies there is adequate cooperation on counter-terrorism. that is just one house committee, but that is a move that, some feel, maybe going in the wrong direction. economic assistance is crucial. president musharraf's speech comes at a timely moment. relations between our two countries are more s
-pakistan relationships are a big priority. we organize events on a monthly basis. senior pakistan officials also regularly speak here. earlier this spring, we hosted pakistan's finance minister. we bring in columnists and journalists. in addition to our regular fellowship competitions, open to all nationalities, our asia program sponsors a fellowship open to only pakistani scholars. one of our former scholars was written while he was a woodrow wilson scholar and is with us today. where are...
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Jul 23, 2011
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and i'm sure we'll make that a big part of our discussion. but there are really two ways to measure how redistricting affects the big picture in the house. you can look at it in terms of the score card that i just went over which seat, if you add up all of those columns, is going to end up ahead at the end of the day. well, i think it's going to be very, very close to a wash, depending on florida, i think it's possible democrats could pick up a handful from the process which is surprising given that republicans earned so many state legislative chambers and picked up so much control in 2010. but then the other side of the equation is really how much can republicans shore up the gains that they made in 2010. and that's a part of the equation that's been more difficult for a lot of us in the pundit world to quantify. but one measurement that was kind of suggested at realpolitics.com and i appreciate this a lot more than a lot of other metrics that have been thrown identity is make the median seat in the house and how far to the right does it mov
and i'm sure we'll make that a big part of our discussion. but there are really two ways to measure how redistricting affects the big picture in the house. you can look at it in terms of the score card that i just went over which seat, if you add up all of those columns, is going to end up ahead at the end of the day. well, i think it's going to be very, very close to a wash, depending on florida, i think it's possible democrats could pick up a handful from the process which is surprising given...
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Jul 4, 2011
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host: a big push from republicans on balanced-budget amendment. that issue has come back to the forefront in the gop terms. what is your reaction t that, eir current mantra? guest: i think the balanced budget amendment might be the worst idea -- would not say ever, but it is pretty terrible. putting a cap on total spending -- i think the house is saying 80% of gdp -- that would cripple government. it would require massive cuts to existing services, up to 70%, but it would -- in the ent of recession or war, it would sharply limit what the united states could actually do. i do not imagine -- quick spending for military action -- i do not imagine that happening at all. requiring the 2/3 votes for tax increases would put this in the same situation as california is right now. they are virtually not capable of dealing with their budget problems because it requires a 2/3 majoty to pass a tax measure. that has crippled the government. host: conn carroll? guest: do i have to? [laughter] i am not against the balanced budget. i think it is a way to kick the
host: a big push from republicans on balanced-budget amendment. that issue has come back to the forefront in the gop terms. what is your reaction t that, eir current mantra? guest: i think the balanced budget amendment might be the worst idea -- would not say ever, but it is pretty terrible. putting a cap on total spending -- i think the house is saying 80% of gdp -- that would cripple government. it would require massive cuts to existing services, up to 70%, but it would -- in the ent of...
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Jul 10, 2011
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what is the troop strength, the terrorist trained, how big is it? are the weapons coming through sudan or are any of them coming from china? with regards to the pirates, the doctor pointed out in his testimony and others have pointed out as well that there needs to be a land solution. i think that is obvious, but if you could touch on that. we will do all the questions -- >> deputy secretary, if i could ask this question -- when the last administration left office, there was an internal debate about whether eritrea should be designated as a state sponsor of terrorism for its support of al- sabah. it did not happen at the time, but just after she left government service, the former assistant secretary wrote a good piece in though wall street journal with these seem of eritrea should be listed as a state sponsor of terrorism. we have the u.n. reports citing their support and the case is cut and dry. the assistant secretary testified flat out that the government of eritrea continues to supply missions to extremist elements -- we are trying to put them
what is the troop strength, the terrorist trained, how big is it? are the weapons coming through sudan or are any of them coming from china? with regards to the pirates, the doctor pointed out in his testimony and others have pointed out as well that there needs to be a land solution. i think that is obvious, but if you could touch on that. we will do all the questions -- >> deputy secretary, if i could ask this question -- when the last administration left office, there was an internal...
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Jul 9, 2011
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it is a problem. >> just a comment on little things that make a big difference. one takeaway i have from many different experiences is the quote attributed to margaret mead, a small group of people that come together and make a difference. sometimes it is just someone taking a step up and collecting with others that can be a model for others to follow. in one country, the police were not interested in engaging and that came from the top of. someone saw a vision and stepped across the table to actually meet with some of the human rights defenders who had been throwing things at them and it was such a divide. he stepped across. the other divide was senior leadership and police. no one spoke except for that person. i knew there was a lot of important permission but we were not going to get it. in certain regions, the leader let the juniorho officers speak up of. once he did that, that was unbelievable. i would just say the bright spots oftentimes are people stepping up and being willing to make those connections. >> thank you very much. i would like to thank our pan
it is a problem. >> just a comment on little things that make a big difference. one takeaway i have from many different experiences is the quote attributed to margaret mead, a small group of people that come together and make a difference. sometimes it is just someone taking a step up and collecting with others that can be a model for others to follow. in one country, the police were not interested in engaging and that came from the top of. someone saw a vision and stepped across the...
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Jul 3, 2011
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if confirmed, the general will have big boots to fill and succeeding general petraeus commander of the 49 member international security assistance force coalition and u.s. forces aghanistan. like general petraeus, general allen brings an in-depth understanding of the complexities of the counterinsurgency effort based on his own experience as the coander in anbar province in iraq. working with the sunni awakening the marines andanbar succeeded in getting local sunni tribal leaders to reject the insurgency and instead support the iraqi government and its the deputy commander at u.s. central command general ellen has developed a regional perspective on issues affecting the region in afghanistan. he will be the first marine to serve as the top commander in afghanistan. the number one priority will be implementing president obama's decision last week to accelerate the transition of security responsibility to afghan forces and start bringing the u.s. surged forces home. as all land by the president, 10,000 u.s. troops wilbe withdrawn by the end of this year and the remaining 23,000 u.s. surg
if confirmed, the general will have big boots to fill and succeeding general petraeus commander of the 49 member international security assistance force coalition and u.s. forces aghanistan. like general petraeus, general allen brings an in-depth understanding of the complexities of the counterinsurgency effort based on his own experience as the coander in anbar province in iraq. working with the sunni awakening the marines andanbar succeeded in getting local sunni tribal leaders to reject the...
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Jul 17, 2011
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one would be eight to big to fail type attacks. it's your assets are over a threshold level, you pay a separate tax. one can limit interest deductibility. the first thing to realize is that financial institutions are highly specialized and understanding them is extremely difficult. regulatory apparatuses our best. but does not mean we have succeeded in the past, but it also does not mean we should try it tax instruments in a very complex setting with highly responsive taxpayers and a lot of this additional detail. that is why i am very skeptical of the tax estimate to address financial leverage. not because it is not a problem, but because there are better ways to do it. i understand there has been a failure to do it. there is little evidence in my mind that these kinds of taxes or a representation of the vengeance many of us feel. >> financial planners plan all around any kind of financial regulations. they are clever. >> indeed they are. >> they are driven to find a product that will find the greatest return. >> they will do more
one would be eight to big to fail type attacks. it's your assets are over a threshold level, you pay a separate tax. one can limit interest deductibility. the first thing to realize is that financial institutions are highly specialized and understanding them is extremely difficult. regulatory apparatuses our best. but does not mean we have succeeded in the past, but it also does not mean we should try it tax instruments in a very complex setting with highly responsive taxpayers and a lot of...
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Jul 9, 2011
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>> there's a big future. there's a deep future. the one that want for. so that is the future where we are all able to freely communicate our hearts and dreams, share information about the world with each other and the historical record is an item that is completely sack sacrosanct. it would never be changed, never be modified, never be deleted, and that we will steer of course away from the victim of he who controls the purses present controls the past. so that is something that is my life long quest to do. and from that, justice flows because most of us have an instinct for justice and most of us are reasonably intelligent. and if we can communicate with each other, organize and not be op pressed and not know what's going on pretty much the rest falls out. in the short term, it is that my staff stop hasling me to tell me to go. >> >> i wish you all the bevs another even more beautiful mission. [applause] >> here is a look at our schedule for this afternoon. next, a discussion with legal scholars on the 2010-2011 supreme court term and what's ahead for t
>> there's a big future. there's a deep future. the one that want for. so that is the future where we are all able to freely communicate our hearts and dreams, share information about the world with each other and the historical record is an item that is completely sack sacrosanct. it would never be changed, never be modified, never be deleted, and that we will steer of course away from the victim of he who controls the purses present controls the past. so that is something that is my...
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Jul 24, 2011
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i think there are two big differences now. difference number one is we have a real problem with the debt. so it's not just a matter of raising the debt ceiling. that's a symptom. it's we have an underlying problem. can we solve the problem. everyone agrees we have to raise the debt ceiling. the other big differs is that the house used to basically use the parliamentry tricks so they didn't have to vote. they left it to th senate. and in the senate tre was a will spirsy if you were up you vote no and if you weren't you voted. we're in unchartered waters and you see what you see. host: from the financial person's perspective is there a combination of cutting and tax revenue that needs to be addressed as far as when it comes to raising the debt? guest: i think if you look at the commission you lear an enormous amount. this is a commission the president appointed. it's a commission that was constituted with sitting members of the house and the senate. republicans and democrats. it was support bid a majority. maybe not a super maji
i think there are two big differences now. difference number one is we have a real problem with the debt. so it's not just a matter of raising the debt ceiling. that's a symptom. it's we have an underlying problem. can we solve the problem. everyone agrees we have to raise the debt ceiling. the other big differs is that the house used to basically use the parliamentry tricks so they didn't have to vote. they left it to th senate. and in the senate tre was a will spirsy if you were up you vote...